Bill Gates Bitcoin & Cryptocurrency Are The Future Of Money

Bill Gates likes Bitcoin? I don’t know about you, but if Bill Gates is going to come out supporting something in the world of technology & money, I’m going to be paying serious attention.

America’s richest man actually threw his weight behind cryptocurrency and digital currency in general during the Sibos 2014 financial-services industry conference in Boston. He sees the low cost to no cost payments solution as the way of the future.

Much like how when cell phones first came out, not many people used them or knew about them. And 10 years later they became a normal part of everyday life and everyone has one. Cryptocurrency will be much the same. In 5-10 years time we will all be using digital currency! Our society has already transitioned to a virtually cashless society anyways through the use of credit and debit cards.

At the event Bill spoke in favor of cryptocurrency as a payments solution. Because Bitcoin & cryptocurrency makes it easy to move any amount of money from party to party, from any two points on the planet (with internet / mobile phone access of course!)

“Bitcoin is exciting because it shows how cheap it can be,” Bill Gates said to Erik Schatzker during an interview with Bloomberg TV’s Smart Street show. “Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.”

When Gates delivered his closing keynote address he reiterated his perspective that in the future, financial transactions will eventually “be digital, universal and almost free.”

Bill Gates believes that there are a couple of improvements that need to happen with Bitcoin and cryptocurrency. His main qualm is that the technology needs to be modified or evolved in a couple of ways. The first most important advancement is to bring attribution to transactions so that cryptocurrency can’t be used for nefarious purposes. Secondly, the speed of moving money needs to be brought from 1-2 hours to real time instant speed.

Bill Gates likes Bitcoin… Watch the following news clip where Bill speaks his mind on Bitcoin and cryptocurrency…

Bill Gates Bitcoin Interview With Bloomberg TV

If Bill Gates is backing cryptocurrency as a digital payments solution… you know where the future is headed! He was right with Microsoft Windows. He’s been right with his humanitarian aid to 3rd world countries. He’s going to be right about the future of money, Bill Gates is America’s richest man for a reason, so when he speaks on topics you can profit from… you listen with intent!

I hope you enjoyed this bit of Bill Gates Bitcoin news. I look forward to providing you with more info and education from the world of cryptocurrency! It is my mission to education as many people as possible, because learning about what is happening here in time to capitalize on it… is simply life changing!

What is Bitcoin in simple term ? How can we transact with someone that offer a service and is it like credit card? How about another terminology use like aryptocurrency and is it sumilar to Bitcoin ? Also, what is mining coin ? I need to be clarified

Bitcoin is a digital currency or also known as ‘cryptocurrency’. It is a blockchain based technology that functions as a store of value that can move in ANY amount globally from peer to peer [via bitcoin wallets] for virtually free compared to traditional banking fees from services such as ‘bank wires’. Mining is a process that generates new coins through the verification of transactions, new coins are rewarded to ‘miners’. Bitcoin miners have costly requirements to mine, including equipment, electricity costs, repairs and need to have specialized knowledge. It is actually more profitable these days to mine ‘altcoins’, alternative cryptocurrencies to bitcoin. The reason is because it is lower difficulty [cost] to mine, and therefore highly profitable to mine the right altcoins.

I’ve been using Bitcoin for several years now, and it’s very safe and easy to use. I would suggest using strong passwords on your wallet and associated email accounts, so you can keep hackers out. But in addition to that I would recommend using 2 Factor Security [2FA] on your bitcoin wallet and email accounts, specifically using the Google Authenticator application. This makes it so that it is required to have your mobile phone to access your accounts, so that you can use the code generated by the app to get logged in. I use it on all my important accounts that allow the feature.